By Chris Becker The Brexit saga could not overshadow risk appetite overnight with US stocks finally rebounding after a staid week, helped by a very strong advanced retail sales print and some “easy” Fed speeches possibly putting brakes on an unrelenting rising rate policy. Pound Sterling was slammed on the Brexit dramas, falling over 300
Stocks are higher here in Asia despite the mixed mood from overnight, with Chinese equities leading the way. Locally a fall in the unemployment rate sent the Aussie dollar higher while other major currency pairs are gaining ground against USD in the wake of the new Brexit deal. The Shanghai Composite has closed 1.3% higher to 2667 points,
This morning’s still solid jobs report was enough puke Aussie short positions: Bonds are sold too. They look like a bargain to me: XJO can’t catch a bid: Big Iron is down: big Gas too: Big Gold is better: Big Banks are still free falling: NAB and WBC especially: Big Realty is also soft: The
Gotti is onto it: The share markets’ danger signals are telling the Reserve Bank economists to leave their Martin Place bunker and go out into the real world. Go and talk to bank branch people (not CEOs) and learn how APRA rules are cutting bank lending by at least 20 over cent but usually by
By Chris Becker Another poor night for equity markets with news of the Brexit deal impacting European bourses in a perverse way, rallying before realising it’s not that good and selling off into the close. The US CPI print did not cause a flutter with currencies reacting more to the EZ CPI and GDP prints
Stocks across the region were mixed today with the local bourse falling nearly 2% on the back of another rout in banks, while the trifecta of Chinese data also proved a little dicey even though on most metrics they were good figures. The oil price and their effect on energy stocks plus the Brexit deal
AUD has been firm this morning on US/China trade hopes and consumer sentiment. Wages disappointed the market. God knows why. It really should know to discount RBA bullshit by now: Bonds are bid: XJO is down solidly: Dalian iron ore is soft. We’re mulling taking some profits on the successful RIO position on seasonal weakness
DXY was off little last night. EUR and CNY firmed: AUD firmed as well: Gold hung on: Oil let go big: Base metals were soft: Miners weak: EM stocks better: US junk eased more: Treasuries were bid: Bunds too: Stocks were flat: Westpac has the wrap: Market Wrap Global market sentiment: Global sentiment improved following
By Chris Becker Two catalysts overnight that would normally be positive couldn’t turn around the risk off mood with US stocks stalling after European markets jumped near the close as a Brexit deal was hatched out. A new round of talks between the US and China on trade is supposed to be optimistic, but it
Stocks are sharply lower across most of the region in response to the risk off mood overnight with the added concern of a breakdown in Brexit negotiations and the falling oil price adding to the tensions. The PBOC again moved the Yuan closer to the 7 handle in a big move in today’s fix with
AUD is under pressure still: Bonds are bid: As XJO gets flushed: Big Iron is hit: Big Gas too: Big Gold is fading away: Big Bank’s dead cat is on the way down again: Big Property is ugly. Great to see Domain leading the way down: Duck.
By Chris Becker A poor start to the trading week for overnight markets with US stocks selling off sharply on the back of tech giant Apple and confounded by falling oil prices that are hurting energy stocks. Brexit negotiations are also fouling up the roost in Europe while the USD is soaring against the major
It’s been a steady start to the week for equity markets here in Asia following the minor slump on Friday night in the US. Chinese stocks lead the way while Japanese bourses paused again despite a much lower Yen. The USD remains on a high against the major currency pairs while OPEC and other oil
By Chris Becker A week after a very strong non-farm payroll (NFP) report that then solidified the Federal Reserve’s intentions at the subsequent FOMC meeting to normalise rates has seen some semlbance of stability on equity markets, although Friday night saw a small tumble. The USD is back in town as all the majors correct
A slew of bad internal data and new policy directions by Chinese authorities – not helped by another big easing in the Yuan fix by the PBOC today – has seen Chinese equity markets selloff to close the week out in a bad note. With no new direction from the Fed overnight, looking set to
AUD is down today as Aussie data weighs: Aussie bonds are getting flogged. The short end is again pricing the better part of three rate hikes over two years. This while housing finance is crashing indicating that the future of the economy is dramatic slowing. RBA stupid has distorted bond pricing. XJO is down modestly:
Yesterday REA released a good result: 17% top line growth is a little ahead of consensus but the warning does not bode well. Macquarie is in raptures today: It is hard to fault the trajectory of the business at the moment, despite the macro trends,” they said in the note. Some positive revenue contributors might
By Chris Becker The November Federal Reserve meeting came and went with no fanfare, as expectations remain nearly locked in for a rate rise in the December meeting instead. Nevertheless, the USD rallied against most of the majors and gained back some ground, particularly against Euro and Pound Sterling. Stocks were mixed on both sides
The reaction to the US mid-term elections has been positive for risk markets in Asia, with stocks rising across the board while the USD floundered against the majors. The Kiwi has moved to a three month high while the Aussie is riding high on a wave of USD weakness. The Shanghai Composite is up slightly going into the
AUD has been bleeding back from 73 cents all morning: Bonds are bid: XJO is up modestly: As Big Iron surges: Big Gas firms: Big Gold falls: Big Banks manage small gains: But Big Realty is stuck, except REA which gapped up on a better than feared result: Straya bypassed, as usual.
By Chris Becker As expected, stock markets rallied following the near predictable result of the US mid-terms, although the post close resignation of Attorney General Jeff Sessions hasn’t been absorbed, neither the near insane press conference put on by Trump this morning. But it’s the sugar kick that was to be expected, with US stocks
DXY was down last night but not overly. CNY fell. EUR bounced: AUD to the moon! Gold was subdued: Oil fell but was supported by OPEC talk of new cuts: Base metals were mixed: Big miners up: EM stocks to the moon! Junk to the moon! Treasuries were sold but the curve flattened: Bunds were
The US mid-term elections – or divorce proceedings in other words – have caused a bit of havoc on risk markets here in Asia, with currencies the most volatile. The USD has moved around substantially against both Aussie and Yen while the Kiwi rose significantly on a very good employment report, making tomorrows RBNZ meeting
Aussie dollar all over the joint as US mid-terms play out. Now at 72.28: Bonds bid: ASX down modestly: Big Iron down: Big Gas too: Big Gold mixed: Big Banks finally getting some dead cat action: No such luck for Big Realty: Mid-terms still too early to call:
By Chris Becker Trading was thin on the ground overnight as Americans headed to their mid-term elections, with Treasury yields lifting slightly – the 2 year looks set to cross 3% soon – while the USD retreated against everything but Yen. European stocks fell back slightly with oil prices falling sharply again, both Brent and
It’s been a mixed session here in Asia with Chinese stocks falling while Japanese markets lifted as Yen waned on a strengthening USD. The other majors are relatively unchanged though leading up to the US mid-term elections which are sure to ramp up volatility across risk markets. The RBA held at its meeting this afternoon
Via FTAlphaville: Earlier this week, President Trump urged Americans to vote Democrat if they wanted to see the stock market go down. A blue wave that sweeps away Republicans from both the House and the Senate would no doubt impact financial markets, but when it comes to equity returns, the economic backdrop also matters. According to Nomura’s
By Chris Becker A mixed night on overseas markets with risk taking somewhat of a holiday in anticipation of the US mid-term elections, with the USD and bond yields falling while stocks kept treading water. The US ISM services print was very encouraging while Brexit negotiations were cooled once again on the Ireland border question.
It’s been an interesting start to the week here in Asia with minor falls across the board on stock markets, with currencies also moving sharply around on the trifecta of Brexit news, BOJ Kuroda’s press conference and the reaction to Friday night’s non-farm payroll (NFP) report, aka US unemployment. The Shanghai Composite is down over 1% going
By Chris Becker A very strong non-farm payroll (NFP) report on US unemployment on Friday night did not help the nascent recovery on equity markets. US markets fell around 1% after gaining more than that on almost every session during the week, with the USD reversing what had been a steep selloff against the major
